I think KHW may have meant using an escrow for the BTC instead of sending BTC directly to your loaner. You send coins first to a newbie and you are going to be scammed and left negative trust.
There is no reason to escrow the collateral, because you have already sent the BTC to ther other party. That is not how a collateral scam would work.
Topic: Short sell BTC - Repo transaction / Secured loan (Read 738 times)
I hope you are using a trusted third party for collateral holdings?
Every bank is trusted third party or no ? In case they do not hold their money (clients money) in bank, I would be worried about security of those money
So, the OP is a certified, licensed banker?
I hope you are using a trusted third party for collateral holdings?
Every bank is trusted third party or no ? In case they do not hold their money (clients money) in bank, I would be worried about security of those money
I hope you are using a trusted third party for collateral holdings?
We have extended possible loan duration to 14 days. First post updated accordingly.
--Numeris Trade
--Numeris Trade
We offer a Repo transaction / Secured loan, which is a way to short sell Bitcoins. It is a simple loan of BTC in return of collateral (we accept USD and EUR as collateral through Ripple and USD through Coinbase). Short selling makes it possible to earn on price falls or hedge against them.
The transaction consists of the following steps:
You may lend between 0.05 and 1 BTC, duration may be between 3 and 14 days, the fee is 0.5% pw. For details please visit our products page.
We trade on freenode IRC #bitcoin-otc, under the name: numerisTrade, relying on Web of Trust. You may also contact us via e-mail or PM. Find out more at numerisTrade.blogspot.com
Fell free to ask any questions.
--Numeris Trade
The transaction consists of the following steps:
- Now: we send BTC to your wallet, you send us the collateral through Ripple.
- After loan duration: we send you back the original amount of the collateral through Ripple, you send back the original amount of BTC + fee to our wallet.
You may lend between 0.05 and 1 BTC, duration may be between 3 and 14 days, the fee is 0.5% pw. For details please visit our products page.
We trade on freenode IRC #bitcoin-otc, under the name: numerisTrade, relying on Web of Trust. You may also contact us via e-mail or PM. Find out more at numerisTrade.blogspot.com
Fell free to ask any questions.
--Numeris Trade
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